Story about 1878 half dollar

ElmerFusterpuck

This was hyped by our local news this morning - of course they added and extra zero to the figure. Still a good story though.

1878 Half Dollar Story

NumisEd

That Mr. Z guy is so full of himself that I just can't stand it. Who gives a flying crap? What if every dealer who has a rare die variety (1-4 known) decides to let their coins tour the US under "armed security"? We would have hundreds of coins traveling the countryside on tour. I own 2 coins that are R.7 die varieties (bust quarters). Maybe I should put the coins on a national tour also.

Another thing: the difference between the reverse dies on the 1878 halves are sooooo minor, that nobody is going to really care to see the coin. It looks just like any other 1878 half. Mr. Z needs to bring it down to earth just a bit, imo.

ElmerFusterpuck

I figured it was a bunch of hype too. They actually showed the coin on our newscast. It was a fairly blah 1878 half in a what appeared to be in a Cameo Proof-62 NGC slab. I really don't know if someone would really pay $100,000+ for that either. At least this coin story is better publicity than the Home Shopping Network...

boiler78

I predict the coin won't sell at auction. If the new owner buys into the 100k hype he will likely have a reserve and anything over 5k will be too high

Coiniac

I don't think I'd take time to go see this touring coin, heck, I have the ANA museum nearby. Even though this Z guy is hyping it up a lot, it is kind of neat to hear about rare varieties and such turning up once in awhile. It's the kind of stuff that keeps the rest of us dreaming.

NumisEd

Chances are that there are other 1878 halves with the old style reverse, but most people don't bother to look. How many of you own the Wiley-Bugert book on Seated Halves? I own a copy, but I must admit that I rarely use it. It is actually a pretty good book in terms of format and information. I like the book, but it is comparable to the VAM book, imo. Some of the varieties are so damn minor that it's not even worth attributing. Not to mention that even if you do find a rare variety, who cares? Who collects Seated Halves by die variety?

Mr. Z is gonna be upset when this coin sells for $4,000 at auction. Of course, we will not let that happen and probably just continue to own it. I have seen this guy do other self promoting before, and quite frankly (no pun intended) I am embarrassed for him. What would you rather own: Hamstaconda's 1794 Uncirculated Large Cent at $50,000 (w/ $50,000 cash in your pocket), or Mr. Z's 1878 half with the old reverse for $100,000???? You know my answer, what's yours?

EVillageProwler

Who collects Seated Halves by die variety?

They are a rare bunch. Besides Dick Osburn and Randy Wiley, there aren't many others. I know of one board member who is into the halves by W-B variety. And, a couple of years ago, Heritage auctioned off a major (and comprehensive) W-B variety collection. Osburn did the cataloging of that collection for Heritage. It was very nicely done, and the catalog could easily be used as a supplemental reference for specialists.

The coins were mostly higher-end circs, and they were in ANACS holders with the W-B attribution on the insert.

EVP

EVillageProwler

BTW, I forgot to bid in that Heritage auction. Duh! I really wanted some of those rare varieties too!

EVP

NumisEd

I remember when Larry Briggs wrote his book on Seated Quarters. That is a good book too, but there are also a limited number of people who collect by Briggs varieties. He sold his collection of Seated Quarters a couple of years ago and you can still see the SEGS slabs floating around with the information stating that it was Larry's private collection. Some of the varieties are really neat and rare, but they just don't bring a premium.

What I can never understand is why Seated Quarters have less of a following than Kennedy Halves or even Silver Eagles, for that matter. I just don't get it! Some of the new collectors could by really nice seated coins for the same money they are spending on Silver Eagles. Oh well......

EVillageProwler

What I can never understand is why Seated Quarters have less of a following than Kennedy Halves or even Silver Eagles, for that matter. I just don't get it! Some of the new collectors could by really nice seated coins for the same money they are spending on Silver Eagles. Oh well......

I speculate the reason for this is that Seated quarters are so darn hard to collect. It's a labor, and requires great patience. One doesn't need to be nearly as patient or discriminating to form a Kennedy half or ASE set. It's really easy to find attractive high-grade specimens of the more modern material.

Consequently, the vast bulk of people will give up on the idea of forming a Seated quarter set. A couple of nice specimens for type purposes will suffice for most...

EVP

CalGold

Um, does anyone have a copy of Wiley-Bugert handy. I thought that the new reverse introduced in 1876 was the closed bud. If that is the case and the story is correct, and he has a closed bud version, he doesn't even have a new die marriage variety.

CG

EVillageProwler

Cal,

If memory serves, the guy found an open bud variety.

EVP

Baley

...A couple of nice specimens for type purposes will suffice for most...


indeed:

Baley

its funny about this 1878 half dollar, if he's trying to scare up some publicity and hype, it's a little late.

worked great to make the 1913 nickels and 1943 copper cents (among others) very valuable coins

but this minor "leaf less sharp" variety doesn't really stir up a lot of expensive romance, does it?

CalGold

EVP,

Then the story as shown in the link is wrong, since it says he found a closed-bud variety.

CG

EVillageProwler

I didn't read the story carefully, but it wouldn't surprise me that the writer got it wrong. (Ain't the only thing wrong. The $$ estimate immediately comes to mind.)

EVP

CalGold

EVP,

Yeah, for that price I'd want one with no motto.

CG

CoinAddict

Here is a previous thread.
Link to previous thread

EVillageProwler

CoinAddict,

Your icon is too disturbing to me. Everytime I read one of your posts, I imagine that there is a voice verbalizing the words, and the voice is that of Gollum... I get chills...

LOL!

EVP

Dog97

Did anybody click on the pictures and look at it? It looks like an impaired Proof, cleaned & circulated & fingerprinted. While rare not unheard of with the t1 rev. I think he'll be lucky to get his money back out of it if he sells it.

boiler78

I wonder how much they are paying the armed guards?

Bear

To sum it up, the coin in question is over priced, rather homely, fingerprints, dipped out and washed

out,and a very insignificant die anomaly. Other then those observations, a true heck of a coin.

NumisEd

I wonder how much they are paying the armed guards?

I close my eyes and see some Barney Fife looking guy standing next to the coin which is proudly displayed under a glass cake lid on a card table. The sad thing is that this "Z" guy is serious. You would almost think that the whole "armed security" traveling display was just a way of drawing attention to the coin in light of it's pending sale OR to simply get free media attention for his coin company. I mean after all, this was on the TV news and in papers across America. I am convinced that the self-proclaimed numismatic expert really believes that this is a rare coin worth $100,000. Bwahaaaaaaaaa

relayer

Coin World covered it last week

NumisEd

Great news guys!! I got excited about finding a rarity so I started checking my pocket change. Guess what! I found a previously unrecorded variety. It's a 1974-D Jefferson nickel in AU-58. I looked and I looked and just knew that something just wasn't right with the reverse. I went to the restroom when, there on the pot, it finally hit me: the second window on the right of Monticello is OPEN! That's right.....OPEN. All other 74-D Jeffersons have closed windows on the reverse building. I put the coin under 200X magnification and verified my find.

I've already contacted Bill Fivaz, the Smithsonian, the BBC and Dan Rather. I am going to put the coin on tour next month. To help protect my rarity, I have hired 20 Royal Canadian Mounted Police to guard the coin. Feel free to contact my people for press release information.

braddick

<< <i>I remember when Larry Briggs wrote his book on Seated Quarters. That is a good book too, but there are also a limited number of people who collect by Briggs varieties. He sold his collection of Seated Quarters a couple of years ago and you can still see the SEGS slabs floating around with the information stating that it was Larry's private collection. Some of the varieties are really neat and rare, but they just don't bring a premium. What I can never understand is why Seated Quarters have less of a following than Kennedy Halves or even Silver Eagles, for that matter. I just don't get it! Some of the new collectors could by really nice seated coins for the same money they are spending on Silver Eagles. Oh well...... >>



I just picked this one up: http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=3011226511

I like the Larry Briggs pedigree and am have started a collection of these. They're inexpensive too for the coin and its history, I think.

NumisEd

Braddick, that was a total rip!! What a great coin for only $36! Congratulations. Oh, and thanks for posting that image. That's the exact slab that I was talking about. Larry is a lot smarter about coins that most people realize. He knows a lot about bust coins too.

Conder101

You people are forgetting that you are reading an article printed by a NON-numismatic press wher the writer hasn't got a clue what he is talking about. For example he has the information about about the type I and II reverses backwards, in 76 they closed the buds not opened them. The story says that Mr Z has the closed bud, it actually has the open bud. The $100,000 figure is not reported as being Mr Z's estimate of the value but is said to have come from un-named "coin collecting experts" so it is most likely hype invented by the writer. The bit about the armed security is probably another overstatement by the writer. Mr Z is going to display it at a few shows in Illinios. How many shows have you seen that don't have armed security? It isn't going to travel with armed security (unless Mr Z carries a gun.) but while on display it will have armed security. . .along with the rest of the show. Frankly the article doesn't even explain the real reason why this coin is important. It gives the impression that this is the only piece with the old reverse known. It isn't. That same reverse die was used to strike some proof coins in 77, 79, and 81 as well. This coin fills in the gap in 1878 and there is an 1880 with this reverse die that has been reported but not confirmed. As for being sold at auction, in the Coin World Article it was mentioned thatthe coin is not for sale but that he MIGHT auction it in the future. In the linked article it sounds like a done deal.

CoinAddict

If you go to the thread that I provided you will find exactly what the Coin World article said. I typed the article onto that thread so that anyone who does not buy or get Coin World can read it.

lclugza

Here are pictures so you can compare the two varieties. The lowest bud is open before 1876 and closed after 1876. Also the second-lowest left has an incuse vein before 1876 and a raised vein after 1876.